Microchip Technology Announces Financial Results for Fourth Quarter and Fiscal Year 2020

RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

 Three Months Ended Twelve Months Ended
 March 31, March 31,
 2020 2019 2020 2019
Operating expenses, as reported$653.2  $535.9  $2,595.0  $2,217.0 
Share-based compensation expense(35.6) (35.1) (149.3) (134.3)
Acquisition-related costs(10.9) (4.4) (35.8) (43.3)
Professional services associated with certain legal matters(3.3)   (3.3)  
IT security remediation(1.1)   (6.8)  
Amortization of acquired intangible assets(248.5) (176.9) (993.9) (674.1)
Special charges (income) and other, net(17.2) 23.3  (46.7) (33.7)
Non-GAAP operating expenses$336.6  $342.8  $1,359.2  $1,331.6 
Non-GAAP operating expenses as a percentage of net sales25.4%   25.8 %   25.7 %   24.9 %

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